You Won’t Believe How Iran’s Central Bank Tried to Play the Crypto Game!

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So, get this: Iran’s central bank decided to put together a $507 million USDT stash to stabilize the rial. Yeah, because nothing says “financial strategy” like dodging sanctions through blockchain. Genius, right?

Iran’s central bank has amassed a cool $507 million in Tether’s USDT to give the rial a little boost. You know, just casually sidestepping traditional banking channels like it’s no big deal. This all went down in April and May 2025-perfect timing for a good ol’ financial maneuver.

These transactions were traced back to the UAE and the magical world of public blockchains, using payments in Emirati dirhams. Because why not add a little Middle Eastern flair to your financial escapades?

With this clever little strategy, Iran managed to access dollar-linked assets while giving the finger to those pesky financial sanctions. Talk about creative bookkeeping!

The Accumulation of USDT: A Strategy to Support the Rial

According to Elliptic’s research, Iran’s central bank hopped on the USDT train by using wallets tied to the country. I mean, it’s not like they had anything better to do, right?

They were tossing around Emirati dirhams like they were confetti, exchanging them on the TRON blockchain and forming a reserve that would make any accountant weep with envy. The grand total? At least $507 million-because who needs stability when you have USDT?

🇮🇷 The Central Bank of Iran grabbed over $500 million in USDT, likely to support the rial and settle scores under sanctions, according to Elliptic. Because nothing says “responsible governance” like crypto!

🧑‍🏭Key facts: • At least $507M USDT accumulated in April-May 2025 • Purchases reportedly settled via AED (UAE dirhams) • Funds…

– Constantin Kogan (@constkogan)

And just when you thought it couldn’t get any crazier, the rial started plummeting like it was auditioning for a reality show. Reports claimed the currency halved in value quicker than you can say “economic disaster.” So, naturally, Iran’s central bank turned to USDT like a lifeline, hoping to grab some of that sweet, stable dollar-linked action.

The whole accumulation process involved cross-border transactions and payments made through the UAE, a real game of financial hopscotch to dodge those traditional restrictions. Impressive, right?

Shift to Cross-Chain Transactions Amid Security Concerns

Initially, Iran was cozying up to Nobitex, the country’s biggest crypto exchange, to handle the USDT flow. It was like their favorite café, but then-wait for it-Nobitex got hacked! Surprise! They lost $90 million in crypto. Whoops!

After the major security breach, Iran’s central bank decided it was time for a change. Funds began migrating from TRON to Ethereum through cross-chain bridges, like a family moving to a safer neighborhood after a robbery. Smart move!

Related Reading: Iran Arms Export Agency Proposes Crypto Payments for Missile and Drone Sales. Because why not mix it up?

Blockchain Transparency and Sanctions Enforcement

But here’s the kicker: despite Iran’s best efforts to keep their funds under wraps, blockchain transparency is like that nosy neighbor who always knows what’s going on. Investigators could trace all those transactions like they were reading a juicy gossip column.

Public ledgers on TRON and Ethereum allowed investigators to play detective, leading Tether to blacklist several wallets associated with Iran’s central bank, freezing around 37 million USDT. Talk about being caught with your pants down!

Central Bank of Iran bought $507m in USDT to prop up the Iranian Rial.

→ Paid in AED dirhams → Received USDT on Tron → Moved to Nobitex (Iran’s biggest exchange) → Bridge from Tron to Ethereum → Sold for rials to support their fiat-shitcoin.

It worked as Rial…

– Ignas | DeFi (@DefiIgnas)

Blockchain data became the ultimate snitch, revealing Iran’s crypto antics. While they were trying to sneak around traditional banking channels, blockchain visibility made it so hard to stay off the radar. Enforcement actions followed, disrupting parts of their wallet structure and putting a damper on their asset party.

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2026-01-23 03:22